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  • Best Islamic Credit Cards in Malaysia 2018

    Similar to the conventional banking system, the Islamic banking system offers credit cards to its customers. These cards work on Shariah principles and offer reward points or cashback like any other card.

    Islamic cards offer various benefits such as cashback, rewards points, rebates, discounts on shopping, dining, petrol and grocery expenses. These cards also offer extra benefits such as Takaful cover and annual fee waiver. Some Islamic cards offer low profit rates when compared to commercial cards.

    Islamic credit cards are Shariah-compliant and unlike conventional credit cards, Islamic cards have profit rates in place instead of interest rates. Let us find out more about the best Islamic credit cards in Malaysia

    Here are the Best Islamic Credit Cards in Malaysia 2018

    Updated on 1st October 2018

    Card Name
    Rewards Programme
    Takaful Protection and Profit Rate
    Annual Fees
    Know More

    Up to 7% cash rebate on PETRONAS spends.

    (Rewards Programme)

    Takaful coverage of up to RM500,000.

    (Takaful Protection)

    Profit Rate: 15% p.a. to 18% p.a.

    (Profit Rate)

    Principal Card—Waived.

    Supplementary Card—Waived for the first year. RM70 for subsequent years.

    (Annual Fees)

    Low profit rates starting at 12% p.a.

    (Rewards Programme)

    Flight and Travel Personal Accident Takaful—RM1 million. Personal Accident Takaful—RM100,000.

    (Takaful Protection )

    12% p.a. to 18% p.a.

    (Profit Rate)

    Principal Card—RM500.

    Supplementary Card—RM400.

    Waived for the first year.

    Make a minimum spend of RM48,000 or 12 swipes in a year to get an annual fee waiver in the subsequent years.

    (Annual Fees)

    Low profit rates starting at 13.5% p.a.

    (Rewards Programme)

    Travel Personal Accident Takaful—RM2 million. and Personal Accident Takaful—RM100,000.

    (Takaful Protection )

    13.5% p.a. to 17.5% p.a.

    (Profit Rate)

    Principal Card—RM777.

    Supplementary Card—RM333.

    (Annual Fees)

    2x TreatsPoints on every ringgit spent

    (Rewards Programme)

    None

    (Takaful Protection)

    Profit Rate: 15% p.a. to 18% p.a.

    (Profit Rate)

    Waived.

    (Annual Fees)

    1 point for every RM10 spent

    (Rewards Programme)

    Free group takaful coverage and “Khairat Kematian

    (Takaful Protection )

    13.5%p.a. to 17%p.a.

    (Profit Rate)

    Waived for life.

    (Annual Fees)

    3x AmBonus Points for overseas expenses

    (Annual Fees)

    Travel takaful coverage of up to RM1 million.

    (Takaful Protection)

    15%p.a. to 18%p.a.

    (Profit Rate)

    Waived for life.

    (Annual Fees)

    Up to 2x Happy Points

    (Rewards Programme)

    None

    (Takaful Protection )

    11%p.a. to 17.5% p.a. (for government employees)

    13.5%p.a. to 17.5%p.a. (for private employees)

    (Profit Rate)

    Waived for life.

    (Annual Fees)

    Exclusive offers at more than 6,500 outlets under the Smart Privileges Programme

    (Rewards Programme)

    None

    (Takaful Protection)

    15%p.a to 18%p.a.

    (Profit Rate)

    RM90 for principal card. RM45 for supplementary card

    (Annual Fees)

    *Effective 1 September 2018, Sales and Services Tax (SST) of RM25 will be imposed on all the new cards or cards up for renewal.

    Best Islamic Credit Cards

    CIMB Islamic Bank Petronas Gold Credit Card

    AmBank Islamic World MasterCard?i offers rewards for all transactions carried out outside Malaysia. You also earn exclusive discounts and deals on dining, room rates, and golf.

    Key Benefits

    • Get a cash rebate of 7% on PETRONAS spends if your statement balance is RM3,000 and above.
    • Get a cash rebate of 3% on PETRONAS spends if your statement balance is below RM3,000.
    • Earn a cash rebate of 0.2% when you spend on other retail transactions.
    Additional Points Description
    How to Use It
    • Use the card to pay for your PETRONAS and other retail transactions.
    • Earn cash rebates based on the category of spend and the statement balance for the month.
    Good about It
    • Get a complimentary travel takaful coverage of up to RM500,000 when you travel overseas.
    • The cash rebates you earn on other retail purchases has no capping.
    Keep in Mind
    • Cash rebates you earn on PETRONAS spends is capped at RM50 per card per month.
    • The complimentary takaful is provided only if you pay the entire airfare with your card.
    • The annual fee for the principal card is waived for a lifetime.

    Who Should Get It

    Those who spend frequently on fuel purchases at PETRONAS stations.

    AFFIN ISLAMIC World Mastercard Credit Card

    The AFFIN ISLAMIC World Mastercard Credit Card is a Shariah-compliant card that provides world-class privileges and benefits around the globe. Here is a list of the features of the card and the things you must keep in mind while using the card.

    Key Benefits

    • Earn 1 AFFIN Rewards Point on every RM1 spent on retail transactions.
    • Get competitive profit rates starting at 12% p.a.
    • Enjoy up to 4 complimentary visits per calendar year to LoungeKeyTM at more than 850 airport lounges.
    Additional Points Description
    How to Use It
    • Pay all your retail transaction bills with the AFFIN ISLAMIC World Mastercard.
    • Earn AFFIN Rewards Points on each RM1 you spend with the card.
    • Use the accumulated AFFIN Rewards Points to redeem gifts and vouchers from the redemption catalogue.
    Good about It
    • Get a complimentary flight and travel personal accident takaful coverage of up to RM1 million.
    • Get a complimentary personal accident takaful coverage of up to RM100,000.
    • The card provides coverage for funeral expenses of RM1,000.
    Keep in Mind
    • The complimentary lounge access is available only for principal cardholders.
    • AFFIN ISLAMIC Rewards Points are not awarded when you spend on petrol, utility bills, government and charity-related transactions, cash withdrawal, late payment fee, and fraud transactions.

    Who Should Get It

    • Those who travel overseas often.
    • Those who spend frequently on retail transactions.

    Bank Islam Visa Infinite Credit Card-i

    The Bank Islam Visa Infinite Credit Card-i works on the Shariah principle of Tawarruq. Read on to know more about the benefits and privileges offered by the card.

    Key Benefits

    • Enjoy competitive cash withdrawal fee of 2.5% of the cash withdrawn or RM12, whichever is higher.
    • Get lower profit rates starting at 13.5% p.a. as compared to the usual 15% p.a.
    • Earn 1 Trupoint for every ringgit spent on retail transactions.
    • Get 40% discount on will writing fees.
    Additional Points Description
    How to Use It
    • Swipe your Bank Islam Visa Infinite Credit Card-i to pay for all your transactions.
    • Earn 1 Trupoint on every ringgit you spend with the card on retail transactions.
    • Redeem gifts and vouchers with the accumulated Trupoints.
    Good about It
    • Enjoy 3 free visits to Airport Independent Lounge at the participating Premium Lounge Network in Singapore and Malaysia.
    • Get a complimentary flight and travel personal accident takaful coverage of up to RM2 million.
    • Get a personal accident takaful coverage of up to RM100,000 with the card.
    Keep in Mind
    • The validity period of the card is 3 years.
    • Get a credit limit equivalent to 3 times your monthly salary.

    Who Should Get It

    • Those who travel overseas very often.
    • Those who withdraw cash with a credit card.
    • Those who make partial payments on their outstanding balance.

    Maybank Islamic Ikhwan American Express Gold Card-i

    The Maybank Islamic Ikhwan American Express Gold Card-i provides many credit card services, such as balance transfer, Express AutoPay, and more.

    Key Benefits

    • arn 1x TreatsPoints on every RM1 you spend on utility bills, petrol, insurance providers, education institutions, and 0% EzyPay.
    • On all other category spends, you can earn 2x TreatsPoints.
    • Enjoy great deals and offers across the globe with American Express SELECTS.
    Additional Points Description
    How to Use It
    • Use the Maybank Islamic Ikhwan Amercian Express Gold Card-i to pay for your retail transactions.
    • Earn TreatsPoints based on the amount you spend and the category.
    • Redeem items from the redemption catalogue with the accumulated TreatsPoints in your account.
    Good about It
    • Enjoy online shopping with globalshop.
    • Get a Touch ‘n Go Zing Card with an auto-reload facility to make quicker payments.
    • The annual fee of the card is waived for a lifetime.
    Keep in Mind
    • Your annual income must be a minimum of RM30,000.
    • The points redemption rate is set to RM1 for every 500 TreatsPoints.

    Who Should Get It

    • Those who spend on retail transactions frequently.

    Bank Rakyat Gold Credit Card-i

    With the Bank Rakyat Gold Credit Card-i, enjoy zero annual and processing fees. Get low rates of interest for using the card, and get a large number of rewards with every swipe. Let’s look at some of the key features of this card.

    Key Benefits

    • Pay zero annual fees without condition on this card.
    • Get 1 Rakyat Reward Point for every RM10 spent.
    • Repay for your retail transactions in easy instalments with 0% added interest.
    • Low interest rates of 13% p.a. if you have been regular on your payments for 9 months or more.
    • Enjoy special benefits and privileges with discounts on the Mail Order/Telephone Order (MOTO) program.
    Additional Points Description
    How to Use It
    • Use the Bank Rakyat Gold Credit Card-i when paying for your retail and other spends.
    • Earn reward points for the total transaction, and enjoy rebates on auto debit payments.
    • Pay your outstanding balances at 0% interest.
    Good about It
    • There is no compounding interest on the outstanding balances.
    • No overseas charges when making foreign transactions.
    • Pay zero penalty charges for early bill settlements.
    • Get rebates on profit for up to 3 years when using auto debit, Good Paymaster, and other Bank Rakyat financing facilities.
    Keep in Mind
    • Each point is converted at the rate of RM0.10 per 10 points.
    • For non- Bank Rakyat share members, the minimum interest rate that has been charged is 13.5% p.a.

    Who Should Get It

    • If you are looking for reward on your retail transactions.
    • If you are looking for a good travel insurance coverage.

    Ambank Islamic Visa Signature Card-i

    Get access to premium golfing benefits with the Ambank Islamic Visa Signature Card-i. You can also enjoy air miles and get a complimentary travel insurance making it easier to plan your trips. Let’s take a look at some of the features on this card.

    Key Benefits

    • Get travel takaful coverage of up to RM1 million when you book tickets with the card.
    • Make safe purchases with a Purchase Protection Plan of up to RM50,000 and be protected against theft and accidental damage.
    • Earn 3x AmBonus Points on selected overseas expenses.
    • Pay comfortably in instalments for a variety of retail transactions with the 0% Easy Payment Plan program.
    Additional Points Description
    How to Use It
    • Use the Ambank Islamic Visa Signature Card-i for retail and other expenses.
    • Get AmBonus Points on the transactions.
    • Use the AmBonus Points to redeem air miles and products from the AmBank redemption catalogue.
    Good about It
    • Enjoy discounts on green fees at selected golf courses with Visa Signature.
    • Convert your AmBonus Points into air miles
    • Redeem AmBonus Points on-the-spot for merchant outlets partnering with ESH, Courts, Cosway, Sen Heng, SenQ, and MYDIN.
    • Get any time assistance with the 24 hour Visa Concierge services.
    Keep in Mind
    • For Ujrah services offered by the bank, the fixed management fees shall be RM15,000 on this card.
    • In case you exceed your credit limit, you shall be charged an amount of RM50.

    Who Should Get It

    • If you shop regularly.
    • If you are a frequent flyer.

    BSN Mastercard Platinum Credit Card-i

    Enjoy a host of privileges and benefits with the card. Pay low fees with the card and enjoy comfortable payment plans. Let’s look at some of the benefits with this card.

    Key Benefits

    • Pay unconditional zero annual fees for both principal and supplementary cards.
    • Earn 2x Reward Points on dining, golf, travel, and overseas transactions.
    • Enjoy attractive rates on balance transfer and pay your credit dues in no time.
    Additional Points Description
    How to Use It
    • Use the BSN Mastercard Platinum Credit Card-i for retail and other transactions.
    • Earn Happy Points with each transaction.
    • Exchange Happy Points for Enrich Miles, shopping, and dining vouchers.
    Good about It
    • Enjoy low annual management fees with the card.
    • Get a complimentary BSN Zing PLUSMiles card and enjoy auto-reload function with the Touch ‘n Go facility.
    Keep in Mind
    • You shall only get 1x Happy Points for local expenses.
    • When making an ATM withdrawal, you shall be charged 2.69% of the cash advance amount, or RM12.75, whichever is higher.

    Who Should Get It

    • If you are looking for good rewards on your shopping and dining expenses.
    • If you travel regularly.

    HSBC Amanah MPower Credit Card-i

    Enjoy the benefits of the Smart Privileges Programme with the HSBC Amanah MPower Credit card-i. This card helps you make no-interest payments on your shopping within the grace period of 20 days. Let’s look at some of the features of this card.

    Key Benefits

    • Check and make payments at any time with the internet banking facility.
    • Make auto-payments on your utility bills.
    Additional Points Description
    How to Use It
    • Use the HSBC Amanah MPower Credit Card-i for all your expenses.
    • Get an SMS alert once the transactions is successful.
    • Check your transaction history on your e-statements.
    Good about It
    • Pay zero monthly management fees with the balance transfer facility.
    Keep in Mind
    • The fixed monthly management fee on this card is RM1,125.
    • In case you opt for balance conversion of the outstanding balance, you shall be paying an interest rate of 18%.

    Who Should Get It

    • If you are looking for an easy payment option with convenient transactions.

    How to Choose the Best Islamic Card

    While looking for the best Islamic cards, you have to consider a number of factors, such as reward type, reward categories, finance charges, eligibility criteria, annual fee, and other fees and charges applicable.

    Compare the cards, read the terms and conditions, and choose the one that fits your lifestyle.

    If you want to know more about other categories, check the best cashback credit cards or the best shopping credit cards

    Review

    You can choose any of the above cards, however, if you want to enjoy more benefits on a Shariah-compliant card, check out the BSN Mastercard Platinum Credit Card-i. If you are a Government employee, with this card, you can get interest rates starting as low as 11% p.a. For private company employees, the interest rate starts at 13.5% p.a. It also provides reward points for both local and overseas transactions.

    Illustration

    The tiers on the card are as follows:

    Tier Criteria Yearly Profit Rate
    Tier I: For the first year, pay outstanding dues by the due date. For the second year, make payments on time for 12 consecutive months. Government Employees 11%
    Private Employees 13.5%
    Tier II: From the second year onwards, make payments on time for 10 out of 12 months in a year to be in this tier. Government Employees 13.5%
    Private Employees 16%
    Tier III: In the first year, you will be in this tier if you pay after the payment due date. From the second year onwards, you will be in this category, if you make payments on time for less than 10 months out of 12 months in a year. Government Employees 17.5%
    Private Employees 17.5%

    Let’s assume that you make transaction of RM2,000, and you are a government employee who has made regular payments for the year. This shall qualify you to be in Tier I, with an interest of 11%p.a. At the end of the month, you will earn an interest of RM18.33. With a 15%p.a. rate of interest, which is common with most banks, you shall get an interest of RM25. In addition to lower interest rates, you would also earn reward points on all your transactions at the rate of 1x Reward Points for local transactions and 2x Reward Points for overseas transactions. This means that for RM2,000, you can get 200 reward points which can be redeemed from the catalogue.

    It is important that you go through the associated terms and conditions once you have chosen your card. For other financial products which might suit your needs better, go online for a free comparison for other banking products.

    BBazaar's Best Islamic Credit Cards of 2018

    Use this guide to compare and choose the card that is best suited to you. Make sure you read all terms and conditions pertaining to the card before opting for one. Identify your preferred spending category and budget to pick a card that will meet your financial needs. This table below will explain the categories that each individual card is ideal for. Utilize this table when comparing cards to choose the best card for yourself.

    Credit Cards Rewards Programme
    CIMB Islamic Bank Petronas Gold Credit Card Up to 7% cash rebate on PETRONAS spends.
    AFFIN ISLAMIC World Mastercard Credit Card

    Low profit rates starting at 12% p.a.

    Bank Islam Visa Infinite Credit Card-i

    Low profit rates starting at 13.5% p.a.

    Maybank Islamic Ikhwan American Express Gold Card-i

    2x TreatsPoints on every ringgit spent

    Bank Rakyat Gold Credit Card-i 1 point for every RM10 spent
    Ambank Islamic Visa Signature Card-i

    3x AmBonus Points for overseas expenses

    BSN Mastercard Platinum Credit Card-i Up to 2x Happy Points
    HSBC Amanah MPower Credit Card-i Exclusive offers at more than 6,500 outlets under the Smart Privileges Programme

    Looking for More

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